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FxWirePro: USD/SGD trades in narrow range, downside limited

  • USD/SGD is currently trading around 1.3848 marks.
     
  • It made intraday high at 1.3864 and low at 1.3842 levels.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1.3840 mark.
     
  • A daily close above 1.3899 will test key resistances at 1.3945, 1.3984 and 1.4012 marks respectively.
     
  • Alternatively, a consistent close below 1.3846 will drag the parity down towards key supports at 1.3794, 1.3754 and 1.3670 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take short position on USD/SGD only below 1.3840, stop loss at 1.3870 and target of 1.3794.

By Aarti Panchal
  • Market Data
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